Knight Frank has published its Sales and Lettings report for the month of February, 2019. see below for details.
- The number of prospective buyers registered in London continues to climb. Despite the number of exchanges declining as a product of Brexit uncertainty, this growing pent-up demand suggests activity levels will increase as political clarity returns.
- The ratio of new prospective buyers versus new supply rose to an all-time high in January at 9.1, compared to 5.9 the previous year.
- This result suggests the possibility that a current downwards trajectory in sales volumes in prime London markets may reverse in the coming months.
- Sales above £30 million accounted for 75% of exchanges in the £10million plus market, boosting the overall transactions in December and January.
- Annual rental value growth turned positive in prime outer London for the first time in three years in February.
- The ratio of new prospective tenants versus new supply in prime central and prime outer London rose to 5.4 in January; an increase largely reflective of a seasonal rise in new prospective tenants and which indicates continued upwards pressure on rental values.